Morocco Wants a New Trade Deal with Turkey before January 30

Morocco’s trade minister Moulay Hafid Elalamy said that the Kingdom and Turkey have started negotiations to review some provisions to make their Free Trade Agreement more balanced.

He said Morocco loses 2 billion dollars annually in trade with Turkey, adding that the two parties have agreed to reconsider the agreement in order to make it more balanced and mutually beneficial.

Rebalancing the agreement would necessitate more Turkish investments in Morocco and better access of Moroccan exports to the Turkish market, he said.

A Moroccan-Turkish committee met in Rabat for that purpose but a final agreement on the amendments to the Free Trade Deal are expected by January 30.

Turkish minister of Trade, Ruhsar Pekcan, attended the meeting.

Moroccan imports from Turkey have reached 21.5 billion dirhams in 2018, while Moroccan exports to this country did not exceed 5.54 bln dirhams.